Fed Concentrates on U.S. Economy While Emerging Markets Slide

EMs have to fend for themselves while Fed sticks to its tapering timeline for domestic aims.

The only surprise about the Federal Reserve's decision to taper its bond-buying program by another $10 billion a month is that anybody was surprised. That doesn't mean the markets took it well.

Stocks sold off around the globe Wednesday, with the Dow Jones Industrial Average shedding another 189 points, and the slide continued Thursday morning. That comes after the final meeting Federal Open Market Committee to be chaired by Ben Bernanke, where it was voted unanimously to trim the central bank's monthly purchases of...